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Indiana Pacers sign Tyrese Haliburton to massive $260 million contract extension

The Indiana Pacers have signed All-Star guard Tyrese Haliburton to a five-year max extension, which could be worth up to $260 million if he hits the incentives.

Haliburton, age 23, was acquired by Indiana before the 2022 NBA trade deadline in the Domantas Sabonis deal with the Sacramento Kings. After earning NBA All-Rookie First Team honors in 2021, the former 12th overall pick was named to the 2023 NBA All-Star Game with Indiana.

  • Tyrese Haliburton contract: $5.808 million salary (2023-’24), $260 million extension begins in 2024-’25

Related: Indiana Pacers trade Chris Duarte to Sacramento Kings

The 6-foot-5 point guard was one of the best NBA players at his position last season. Haliburton became the first player in NBA history to average 20 points, 10 assists and 40 percent shooting from the perimeter in a season.

He finished with the fourth-most assists (585) in the NBA and ranked second in assists per game. Haliburton also ranked 14th in Player Efficiency Rating (23.6), ninth in Offensive Win Shares (6.4) and led the NBA in assist rate (47.6 percent).

While specific terms of the deal weren’t disclosed, Haliburton can become one of the highest-paid NBA players over the life of the deal. Importantly, the $260 million maximum contract value can only be reached if he meets all of his performance criteria, including All-NBA selections.

  • Tyrese Haliburton stats (2022-’23): 20.7 PPG, 10.4APG, 1.6 SPG, 49% FG, .195 WS/48

Related: Bruce Brown signs with Indiana Pacers

Impact of Tyrese Haliburton contract on Indiana Pacers cap space

Haliburton’s contract will not impact the Pacers’ cap space this summer. By signing the contract extension now, Indiana ensured itself long-term financial flexibility.

Bruce Brown’s contract – $45 million over two years – includes a team option in 2024 for an estimated $23.8 million. It allows the Pacers to terminate the option next summer, right as Haliburton’s salary ($35 million) kicks in.

As of Saturday morning, per Keith Smith, the Pacers still have an estimated $11.9 million in cap space. Indiana has been connected with interest in Max Strus, but he remains in play for the Cleveland Cavaliers.

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